From 2023 to 2033, the size of the worldwide pea protein market is anticipated to grow at a CAGR of 7.0%. By the end of 2033, the market share value is anticipated to have increased from US$ 3,959.2 million in the current year 2023 to US$ 7,810.4 million by 2033.
The market for plant-based butter is rapidly rising as consumers seek healthier and more environmentally friendly alternatives to traditional dairy butter. Because of advancements in plant-based component technology, these butters have the same rich flavour and creamy texture as animal-derived fats. The market for plant-based products is expanding as consumers become more cognizant of environmental and health concerns.
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The growth in chronic diseases induced by altered lifestyles and changes in exercise habits, particularly among millennials, are important factors influencing acceptance of a diet high in pea protein. Increased customer interest in sports nutrition products as a consequence of enhanced knowledge of bone and muscle health is projected to drive the pea protein market.
Consumer preferences for non-GMO, gluten-free, and hexane-free items, as well as increased demand for non-GMO, gluten-free, and hexane-free goods, are expected to fuel R&D in the pea protein market, hence accelerating its growth. The expense of getting multiple licences, the end product features, and the manufacturing process all have a substantial impact on the pricing of organic pea protein, presenting an exciting possibility for new competitors.
Key Takeaways from the Pea Protein Market Study:
- Pea protein isolate is the most popular product type of this market sector making it the largest segment with a share of more than 50% of total sales
- In 2021, North America accounted for about 44% of global revenue, dominating the pea protein industry worldwide.
- The demand for the textured pea protein in meat processing is expected to expand as a result of the existence of key meat product companies in the U.S., including JBF, Tyson, National Foods, and Cargill.
Competitive Landscape
US, France, Spain, U.K., and Germany, Italy are the major countries driving demand for Pea Protein Market. The name of some of the renowned pea protein market key players are Burcon Nutrascience, Roquette Freres, The Scoular Company, DuPont, Cosucra Groupe Warcoing SA, Nutri-Pea Ltd., Shandong Jianyuan Group, Sotexpro SA, Ingredion, Inc., Axiom Foods, Inc., Fenchem Inc., and Martin & Pleasance.
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FMI, in its new offering, provides an unbiased analysis of Pea Protein Market presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for Pea Protein based on by Nature (Organic, Conventional), Product Type (Protein Concentrates, Protein Isolates, Textured Protein, Hydrolysed Protein), End Use (Food Processing, Animal Feed, Nutraceuticals, Sports Nutrition, Infant Nutrition, Cosmetic and Personal Care), by Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa )
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Pea Protein Market by Category
By Nature:
- Organic
- Conventional
By Product Type:
- Protein Concentrates
- Protein Isolates
- Textured Protein
- Hydrolyzed Protein
By End Use:
- Food Processing
- Meat Alternatives
- Bakery Products
- Confectionery
- Snacks & Cereals
- Meat-Based Products
- Functional Beverages
- Others
- Animal Feed
- Livestock
- Cattle
- Swine
- Poultry
- Pet Food
- Aquafeed
- Livestock
- Nutraceuticals
- Sports Nutrition
- Infant Nutrition
- Cosmetic and Personal Care
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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